Victoria Fomenko acted as a speaker at the VII annual conference WealthPro Ukraine 2019


On February 22, Viktoria Fomenko, Partner and Head of Tax and Customs Law Practice INTEGRITES, spoke at the conference WealthPro Ukraine 2019 on the discussion “Not only a CRS: the implications of international information exchange.”

During her speech, Victoria talked about exiting information exchange mechanisms not only within the framework of CRS, but also under a bilateral treaty, multilateral convention, and criminal cases. In addition, Also, Victoria Fomenko gave examples of sharing information on court cases within tax disputes and of criminal proceedings. The conference participants found out the results of the international information exchange in 2018, namely, the total amount of the additional charges, together with penalties, was UAH 2.6 billion.

As part of her speech, Victoria focused on the current format of information exchange, and made a comparison with the automatic information exchange within the CRS.

According to Victoria, the existing information exchange mechanism is not identical to CRS and cannot be replaced by CRS; thus, the mechanisms will exist in parallel, complementing each other.